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Multifamily Loans in
Mint Hill, NC

Overview

Mint Hill is located in a good market for 5+ unit multifamily loans. Multifamily loans in Mint Hill are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Mint Hill are competitive. Mint Hill apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Mint Hill.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Mint Hill, NC

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Mint Hill are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Mint Hill may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Lenders in Mint Hill, NC

All major multifamily lender types are lending in Mint Hill.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 02, 2021


Mint Hill Market

The city of Mint Hill in Mecklenburg County has a population of 27,617. The median rent in Mecklenburg County for a 2 bedroom is $1,243. The median Mint Hill resident is 44 years old with a yearly income of $34,052. The average family has 3.21 members and a median household income of $75,084. Mint Hill has a 39% higher education rate. The unemployment rate in Mint Hill is 3.5%.


Population
27,617 people

County
Mecklenburg County

Renters

22.4% of Mint Hill households are renters.


Rent Burden

29.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Mecklenburg County 1
North Carolina 2
National 2
Studio $1,066 $694 $737
1 bedroom $1,090 $713 $813
2 bedroom $1,243 $871 $1,015
3 bedroom $1,639 $1,152 $1,325
4 bedroom $2,112 $1,386 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Mint Hill Demographics


Median Individual Income
$34,052 / year

Median Household Income
$75,084 / year

Families w/ Dual Incomes
55%

Unemployment Rate
3.5%
Household Income Distribution
Mint Hill, NC

Median Age
44 years

Avg Family Size
3.21 people
Age Distribution
Mint Hill, NC

College Education or Above
39%

STEM College Graduates
41%
Education Distribution
Mint Hill, NC
Source: U.S. Census Bureau

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